FAM OKs MVR 80M budget; MVR 8.6M deficit

Football Association of Maldives (FAM) has passed an annual budget of MVR 80 million for 2022, with a deficit of MVR 8.6 million. 

In a press conference after FAM’s congress on Monday evening, FAM’s president Bassam Adheel Jaleel said the association was struggling in the wake of the COVID-19 pandemic, but continued to focus of the development of football in Maldives. 

“The last year was difficult. We faced numerous financial difficulties. We had to abandon the tournament because we found it difficult to get sponsors. But we have provided 90-95 percent of financial assistance due to all clubs,” he said. 

Bassam said that the FAM, like other global football associations, had considered ways to cut down expenditure, including cutting down staff, reducing pay, and reducing financial assistance.  

He said that FAM decided against much moves after extensive consideration. 

“We had the option of enforcing measures like that which were enforced by other countries. But we decided against taking such measures because we were financially strong then. If we had done that, it would have put many footballers out on the streets. So we thought we would honor the pledges made to clubs. If we had stopped all this for the sake of saving FAM, then it would have been very difficult for the clubs and FAM’s employees,” he said. 

Bassam said FAM was now facing financial difficulties due to the decision taken during the pandemic not to take such measures, but was confident the association would grow financial strong against starting next week. 

“The bulk of FAM’s debts have now been repaid. The rest will be repaid this month,” he said. 

Bassam said that the 2022 budget was passed after omitting many of the previously planned initiatives. 

Only initiatives absolutely necessary for the development of football will be carried out this year, he said. 

“We will do only what is necessary. We plan on limiting spending to only what is necessary. That’s how the budget was passed this time,” he said. 

Bassam said that though FAM passed a budget of MVR 80 million this year, planned expenditure is expected to reach MVR 88 million, creating a deficit of MVR 8.6 million. 

However, Bassam expressed confidence the deficit will be turned to surplus before the end of the year. 

FAM officials met President Ibrahim Mohamed Solih earlier Monday. Bassam said that at the meeting, the president provided assurance the government would provide its full support in whatever was necessary to develop football in Maldives. 

“The president gave us hope. He said he would provide his full cooperation. That does not mean a lot of financial assistance. The government will facilitate everything we do,” he said. 

Bassam said that though FAM did not have easy days ahead, it remained committed to developing football in Maldives.